Financial Institutions, Statutory Violations, Department of Justice (DOJ)

Federal Judge rejects request to release ESSA Bank from redlining settlement

Ballard Spahr LLP on 7/29/2025

A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending....more

TD Bank Agrees to Pay Over $3 Billion for Systemic Violations of Bank Secrecy Act and Money Laundering Violations (Part I of IV)

The Volkov Law Group on 10/15/2024

In yet another reminder of the scope of Justice Department enforcement powers, and an important demonstration of the risks of non-compliance, the Justice Department and relevant banking agencies announced a $3 billion...more

DOJ Reaches Historic Multi-Million Dollar Redlining Settlement With Citadel Federal Credit Union

Troutman Pepper Locke on 10/14/2024

On October 10, the U.S. Department of Justice (DOJ) announced a landmark redlining settlement with Citadel Federal Credit Union (Citadel), marking the first such agreement with a credit union in the DOJ’s history. This...more

Citadel FCU is first credit union to settle DOJ redlining complaint

Ballard Spahr LLP on 10/14/2024

The Justice Department announced that Citadel Federal Credit Union has agreed to pay more than $6.5 million to resolve allegations that it engaged in a pattern or practice of redlining majority-Black and Hispanic...more

TD Bank: Part 1-Money Laundering and the China Syndrome

Thomas Fox - Compliance Evangelist on 10/14/2024

Last week, representatives of the US government announced one of the largest sets of fines and penalties for failures in anti-money laundering ever laid down. It involved TD Bank N.A. and TD Bank US Holding Company. It was...more

United States V. Danske Bank: New Theory of Liability for Violation of US AML Standards

WilmerHale on 4/10/2023

This Article discusses the recent plea agreement between the United States and Danske Bank. It argues that the Department of Justice has advanced a new and evolving theory of liability for foreign banks that access the U.S....more

DOJ, CFPB: Lenders that rely on discriminatory appraisals violate the FHA and ECOA

Orrick, Herrington & Sutcliffe LLP on 3/27/2023

On March 13, the DOJ and CFPB filed a statement of interest saying that a “lender violates both the [Fair Housing Act (FHA)] and ECOA if it relies on an appraisal that it knows or should know to be discriminatory.” ...more

Financial Institutions › Statutory Violations › Department of Justice (DOJ)